My grandma used to say always be prepared with an umbrella! For my investors that own rental property I ALWAYS encourage an umbrella policy to be purchased for extra risk reduction!
Umbrella insurance is extra liability insurance. It is designed to help protect you from major claims and lawsuits and as a result it helps protect your assets and your future. It does this in two ways: Provides additional liability coverage above the limits of your homeowners, auto, and boat insurance policies. (Reference: Google)